Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

420 with CNW – Recreational Marijuana Legalization in New Jersey Could Trigger Regional Domino Effect

A projection of sales shows the recreational cannabis industry in New Jersey reaching between $850 and $950 million annually by 2024. The state, which has a population of almost 9 million people, will be holding a vote for residents to legalize a recreational marijuana market come November. For many, this is a risk they are willing to invest in, with billions of dollars’ worth of business opportunities riding on the outcome of the vote.

If New Jersey residents approve the marijuana market, many leaders expect a similar chain of events to occur inland and along the Eastern Seaboard, which will create an adult-use cannabis region that will be among the largest globally.

The total population of the states that have been in talks about adult-use legalization which include Pennsylvania, New York, Rhode Island and Connecticut, is 37 million, which is more than four times the number of people who reside in New Jersey.

With a recreational cannabis industry already established in Massachusetts and another smaller market set to launch on October 9 in Maine, the president of the CannaBusiness Association, New Jersey, Scott Rudder, predicts that New Jersey is the last hurdle for Pennsylvania, New York and the surrounding states.

A cannabis attorney, Bridget Hill-Zayat, agrees with Rudder, stating that the legalization of a recreational cannabis market in New Jersey will motivate the surrounding states.

Despite the New Jersey proposal lacking some details like the number of business licenses that will be made available, regulations and laws will be added on by cannabis regulators and state legislators after voters pass the initiative.

According to a DKC Analytics poll that was conducted in July, 68% favor the legalization initiative with 26% against it and another 6% polling as unsure. An earlier poll that was carried out in April by the Monmouth University showed that 61% of the respondents were in favor of the legalization.

At the moment, the state has only 12 medical cannabis dispensaries with a few more expected to open in the months to come. Many believe that the medical marijuana dispensaries currently operating will be the first to operate in the adult-use market, as a way to accelerate but also ease the market’s launch by late 2021.

Rudder predicts a level of urgency from legislators to give the authority and for regulators to establish regulations due to the pressure the sector will be under to create economic opportunities and generate tax revenue. This is mainly because of the effect the coronavirus pandemic has had on the state’s economy. These anticipated economic benefits confirm what the marijuana industry, including companies like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER), has always believed about the immense benefits of having a regulated cannabis market.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Utah Officials Surprised by Enthusiasm for Medical Marijuana

Utah saw its first-ever sales of medical marijuana in March and six months later, the state’s budding medical marijuana industry is going stronger than anyone expected. Utah voters originally approved a ballot initiative legalizing medical marijuana back in November 2018. State lawmakers later replaced the measure with a law that more tightly controls the production, distribution, and use of the drug, Dubbed the Utah Medical Cannabis Act, the law went through multiple changes before the medical marijuana program was finally launched in March.

“It’s been going well, as all new programs and people starting and really pushing to get up and going like they did early on, and now producers are starting to find their traction to be able to keep moving forward,” says Cody James, manager of the Utah Department of Agriculture’s Industrial Hemp and Medical Cannabis Program. “I don’t think that anybody had an idea as to the number of patients that Utah was going to see this early. I think we’re exceeding all of the studies that we had on the number of patients,” he says.

Under the Utah Medical Cannabis Act, 10,000 active medical cannabis patients have received medical cannabis cards, a number state officials didn’t expect to reach until one year into the program, says Richard Oborn, director of the Center for Medical Cannabis. “And this means fewer residents in Utah are possessing medical cannabis illegally. These are people that are suffering from qualifying illnesses such as chronic pain and cancer, epilepsy, MS, and terminal illnesses. So that’s exciting to see that there are more people that are not having to take their medication in the shadows anymore.”

Oborn adds that most of the hiccups that occurred with the patients’ registry portal early on have been ironed out, making for a smoother sign up process. Additionally, people in Utah are consulting with doctors and pharmacists about medical cannabis “more than they ever have.”

At 3,600, Utah County accounted for more patient cards than any other county, followed by Salt Lake County with 2,400 patients, Weber County with 854, and David County with 787. According to Oborn, more people in Utah County may have applied for their medical cannabis card than in Salt Lake County as the first pharmacy opened in Salt Lake City. Plenty of patients purchased medical marijuana at the pharmacy when the program began using a recommendation letter.

“We believe there’s a high number of those patients that have not yet converted to a medical cannabis card, that they are continuing until the end of the year to rely on just their letter.”

Analysts say entities like Sugarmade, Inc. (OTCQB: SGMD) are probably glad that record numbers of patients are now benefiting from medical marijuana in Utah.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – 500,000 Australians Could Soon Access Medical Marijuana

The past couple of years have seen cannabidiol (“CBD”) become firmly established within the mainstream consciousness. Filled with potent medicinal properties, the hemp extract has captured the attention of millions all over the world, and many have turned to CBD to help cure what ails them. However, the fact that it isn’t officially recognized as a medicine makes most doctors squeamish about prescribing CBD, forcing patients to find outside sources.

Thanks to Melbourne-based medical cannabis company Montu, half a million chronically ill Australians could now be able to access medical marijuana without having to use backdoor channels. The firm has created a network of doctors who support the use of CBD as a treatment, thus providing a lifeline for the multitude of Australians who could greatly benefit from CBD but cannot access it lawfully.

Melbourne resident Annee Angell, for instance, has long been looking for the right treatment for her 40 year old, blind, and non-verbal daughter, Lindsey, who suffers from severe seizures. Although she discovered CBD four years ago, she was forced to seek a “backdoor supplier” since the product was considered illegal. “I couldn’t consult my GP because I feared I would get in trouble,” she confesses.

Despite the fact that medical cannabis was legalized in Victoria in 2016, Lindsey’s neurologist refused to prescribe CBD. “I asked for a prescription but he flat out refused because he feared he would become ‘the guy’ and be inundated with CBD prescription requests,” Angell says. Once she had procured CBD through other means, Lindsey went from having four seizures every week to just one on average.

Although she eventually found a GP who was willing to prescribe CBD, he only gave Lindsey a small dose of 4mg per day, a far cry from the 40mg she needed to reduce seizures. “I felt like he was too nervous to give her a higher dose because he didn’t really understand CBD. Doctors and pharmacists are scared of it. The biggest problem is the stereotype that it gets you high. This is not true. I would never put Lindsey in that position,” Angell says.

According to Dr. Joel Wren, who practices from the AHA Seaford Day and Night Clinic in South Australia and has been prescribing medical cannabis to patients for a little over a year, the struggle Angell, Lindsey, and other patients go through to gain access to medical marijuana is not uncommon. “It’s absolutely awful people have to rely on these black market sources.” If Montu’s network of medical cannabis doctors pans out, patients like Lindsey who need CBD will be able to get it through the proper channels.

Experts say companies like Pac Roots Cannabis Corp. (CSE: PACR) are glad when patients across the globe begin getting access to medical marijuana in order to get some relief from their health challenges.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – 5 Tips to Consider Before Using Marijuana as Sleep Aid

Wanna get high and sleep? Here are a few things you need to be aware of when using cannabis to help you rest.

If you’re a cannabis consumer, then you know that it can be really good for sleep, points to its relaxing properties. While there may not be scientific evidence to support this claim, informal enquiries from individuals who suffer from various degrees of insomnia show that cannabis can be effective in inducing sleep by helping its users feel relaxed.

When using cannabis to help you sleep, you should take into consideration;

Your method of consumption

The form in which you consume your cannabis will affect the rate of its reaction in your body. If you consume an edible, it may take you a few hours before you start feeling its effects. On the other hand, if you smoke or vape, it hits in seconds or minutes, depending on the potency and allows you more control.

The dosage you will be consuming

If you plan on consuming marijuana before bed, your level of experience with cannabis matters. Smoking too little may leave you feeling nothing while smoking too much may lead to weed-induced paranoia. First timers using cannabis to help them sleep should try and create a relaxing environment and avoid overstimulation from alcohol or screen time.

The type of marijuana

Whether the product you are consuming is CBD or THC-based does not matter, as it all comes down to indica or sativa. Knowing that different types of marijuana cause different effects is important. The indica strain tends to affect the body in heavy and relaxing ways, which produces sleepy effects. However, this does not mean that a hybrid or sativa strain won’t make you sleepy. Trying different variations and finding what works for you is the objective.

Cannabis hangovers

If you are not used to consuming cannabis at night, you may wake up feeling a bit groggy and puzzled. Despite them not being as common as alcohol hangovers, marijuana hangovers exist. They mostly occur if you consume marijuana that is of low quality.

To manage a marijuana hangover, eat healthy foods, drink a lot of water and monitor your marijuana intake throughout the day.

There might be changes in your dreams and sleep

Marijuana may affect a person’s sleep by limiting REM sleep, which results in the lack of dreams. Scientists have discovered that REM sleep is important for resting and learning. So, if you feel like your sleep isn’t good for you or you aren’t resting, you should monitor your cannabis usage as well as your sleep habits.

As entities like Pure Extract Technologies Inc. always say, it is always advisable to have a chat with your doctor before consuming marijuana, especially if you are on any kind of medication.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – The Next Big Trend in Cannabis: Low-THC Products

For many years, the most popular and well known cannabinoid was THC. However, in the recent times, there has been an increase in CBD awareness and popularity.

Search trends on Google indicate that CBD is searched more often as compared to THC, and this has been the case for the last few years. Clearly, interest in CBD is on the rise, but is its use increasing too? Many wonder if CBD products will lead to a decline in THC popularity among patients and consumers. Will that be the case? Below are some reasons why CBD might just eclipse THC in the consumption department.

CBD products are easier to cultivate

CBD products are also referred to as low-THC products. Marijuana strains that are low in THC are more common in nature than strains that are high in THC. To get a plant to yield high amounts of THC, you require the right ecosystem and environment.

This is in comparison to hemp with low THC which can grow anywhere, as long as the temperatures are not extremely cold or hot. Additionally, low THC products can be locally sourced, making them easier to get to international markets.

This makes low THC varieties of marijuana easier to cultivate unlike high THC varieties, which boosts their popularity with consumers.

There are more favorable laws governing CBD

Most low-THC products that are internationally available are derived from hemp and in many countries, the regulations and laws of hemp are generally more favorable as compared to non-hemp cannabis varieties. A great example of a country with favorable laws would be Switzerland.

In Switzerland, floral hemp or low-THC marijuana, is very popular and widely available for legal purchase by adults. While products that have more than 1% THC in them are prohibited for recreational use, marijuana products that have less than 1% THC are legal in the country.

History has shown that a country is less likely to pass a high-THC recreational law but will have no qualms with approving a low-THC medical marijuana law. This also affects consumer popularity.

Reduces the use of prescription medication

A recent study discovered that the increased availability of low-THC marijuana products led to a decrease in the use of pharmaceutical drugs. This is not only good for marijuana consumers but also for the society as a whole, as there’s a decrease in public-entitlement health-related costs.

This just goes to show that as the fight to have plant-based therapies recognized as an alternative form of treatment, many are finding ways to incorporate low-THC marijuana remedies into their routines, showing that there is a growing trend of these products capturing a bigger market share. What do companies like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) think about this growing trend?

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Why You Should Consider Juicing Cannabis

Who could have predicted just how mainstream the controversial plant has become? Even though cannabis is still illegal at the federal level, numerous states have legalized either medical or adult-use cannabis. The industry was valued at $13.6 billion in 2019 and experts expect it to grow even bigger. Most of its popularity is owed to THC and CBD, two of the over 100 cannabinoids produced by cannabis. These cannabinoids have a wide variety of potent medicinal properties that make cannabis a good alternative to some pharmaceuticals.

However, did you know that you can consume cannabis in its raw form without having to vape, smoke, or cook it? Part of the pressed vegetable juices movement, raw cannabis, or cannabis juice is quickly gaining popularity in the U.S. Like some vegetables and fruits, cannabis loses a vast majority of beneficial enzymes and nutrients when it is heated or cooked. That’s why although some fruits and vegetable can be prepared, they are better eaten raw as you derive the entire profile of benefits from them, instead of just what’s left after they are cooked.

In equal measure, consuming raw cannabis leaves and buds allows you to access all the enzymes and nutrients that would have otherwise been lost if the cannabis had been heated or cooked. For instance, raw cannabis can contain 500mg to 1,000mg of non-psychoactive CBDA, THCA, and CBGA but once it is heated, the same amount of cannabis will contain only 10 mg THC. Additionally, since most of the cannabinoids in raw, unheated cannabis are in their acid state, including THC, they are not psychoactive. Thus you can benefit from the cannabis juice without experiencing THC’s infamous “high.”

Cannabis juice also brings something that most pure CBD products don’t, the entourage effect. The plant contains terpenes, flavonoids, and over 100 cannabinoids, and when it is consumed whole, all these components work in synergy, making the cannabis juice more effective than a pure CBD or THC product would be. The high concentration of raw cannabinoid acids also works in concert with fatty acids to improve cell function and reduce the damage done by free radicals. Raw juiced cannabis can also reduce inflammation and facilitate two-way cellular communication.

However, results will vary based on an individual’s unique genetics. Some users report changes after just one serving of raw juiced cannabis while in others it takes four to eight weeks to see the full results. And like with most cannabis products, make sure you consult a medical professional before you start juicing, especially if you have a pre-existing medical condition like kidney or gallbladder problems.

It would be interesting to hear what cannabis companies like Sugarmade, Inc. (OTCQB: SGMD) have to say about the merits and demerits of juicing marijuana.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Marijuana-Infused Products Are Not Attracting New Consumers, Survey Finds

According to a survey that was released earlier this week (on Tuesday), new marijuana users make up about a quarter of all legal Canadian cannabis consumers. However, many seem to be shying away from cannabis-infused products, which were created for the sole purpose of drawing in more consumers into the market.

This survey, which was conducted by the Brightfield Group, had 3,000 Canadian marijuana users participate in the survey. They discovered that new marijuana consumers, including those who began consuming marijuana after the drug was legalized in 2018, account for 25% of legal marijuana purchases in the year’s second quarter. This shows that the regulated cannabis market is amassing increased consumer interest in Canada. The participants were also polled in a quarterly series that examined the impact marijuana legalization has had on the market.

According to the managing director of Brightfield Group, Bethany Gomez, the arrival of cheaper products in the legal marijuana market that compete with prices from the illicit market directly has influenced a significant increase in consumption.

The survey also discovered other factors that attracted new consumers included increased familiarity with legal dealers and the expanding product menus.

In a phone interview, Gomez said that the cheaper products were more popular with new marijuana consumers. The affordability of the products makes it easier for the consumers to indulge as compared to a good product that may be offered at an expensive price.

The CEO of Sessions Cannabis, Steven Fry, who is a marijuana retailer with 7 functional stores in Ontario, agrees with Gomez as affordable prices are growing his consumer base. He adds that about 15 of the 20 most bought items in his store can be qualified under ‘value’ brands and that these brands are dominating the market.

The Brightfield survey also discovered that dried flower products were very popular among new marijuana users, with polls showing that 43% of them purchased marijuana in dried flower form, another 37% purchased marijuana gummies and an additional 27% preferring chocolate. Vape pens made up 15% of new marijuana user purchases.

However, the data also exhibits the stagnant interest in marijuana-infused products like gummies and edibles, which were supposed to attract consumers who did not like inhaling marijuana in the first half of this year.

Gomez admits that the consumers are not responding to these supplementary marijuana products the way that producers expected. These are interesting statistics and sector players like Pac Roots Cannabis Corp. (CSE: PACR) are likely to think hard about the implications of this survey upon future consumption habits.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Coin Shortage Worsens Payment Challenges in Marijuana Industry

The cannabis industry has come pretty far from the days of universal prohibition, but the industry still faces a couple of major setbacks. Chief among them is a lack of access to banking and cashless payment services. Although numerous states have legalized either medical or recreational cannabis, it still remains illegal at the federal level and banking institutions avoid working with cannabis businesses in fear of retaliation from the federal government.

The coronavirus pandemic hasn’t made it easier; with the government advocating for cashless payments to reduce the spread of the virus, it has become clear just how much the industry needs access to cashless payment systems. Most other businesses have switched over to contactless transactions to keep both consumers and staff safe, but cannabis dispensaries have had to continue with cash payments. To make matters worse, cashless payments coupled with economic decline have led to a massive coin shortage.

This has affected establishments like convenience stores, laundromats, supermarket chains, and arcades that usually rely on the flow of paper currency and need to make change. But while these businesses can easily switch to alternative payment options that don’t require physical currency, cannabis businesses don’t have that luxury. “We still can’t operate like other businesses, unfortunately,” says Jerry Millen, owner of the Greenhouse of Walled Lake, a fully licensed medical and recreational cannabis dispensary in Michigan.

“First we ran out of pennies. We didn’t want to gouge the patient or the customer, so we rounded (transactions) down, which didn’t cost us a whole lot. But then we started running out of quarters, and suddenly, we started to feel an impact,” he says. But the cannabis industry is known for its innovation and creativity, and Millen found a way to save his bottom line. In late July, he launched a promotion called “Coins for Cannabis” which gifted customers who redeemed $100 or more in rolled pennies, nickels, dimes, and quarters in exchange for cash with a free premade joint.

The ploy paid off and as of late August, the Greenhouse of Walled Lake had collected almost $15,000 in coins, more than enough to sustain it for the rest of the year. Coins for Cannabis also created brand awareness and stimulated new business for the dispensary, Millen says, with recreational marijuana sales increasing “four, five-fold during the pandemic.”

Although there are plenty of up and coming wallet apps, many dispensaries would rather keep their operations cash only, at least for the moment. “It really comes down to being tired of being in the ‘beta phase’ of every startup with a hot idea,” says Aaron Varney, director at Dockside Cannabis in Seattle. “The learning curve comes at our expense,” he added.

It remains to be seen how other players in the cannabis space, such as Pure Extract Technologies Inc. will respond to the evolving challenges posed by the pandemic.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

420 with CNW – Vermont Marijuana Policy Reform Bills Sent to Governor’s Desk

A proposal to legalize cannabis sales in Vermont and another one that provides automatic expungements for marijuana convictions have been pushed to the governor’s desk after a final Senate vote was conducted on Tuesday.

The state Senate approved the negotiated legislation with a 23-6 vote after the House of Representatives had approved it.

In 2018, Vermont legalized the cultivation of 2 marijuana plants and possession of a maximum of 29 grams of marijuana. However, no regulations that allow retail sales were put in place.

The governor of Vermont, Gov. Philip Brian Scott (R) has yet to explicitly confirm or deny whether he will put his signature on the S.54 measure but he admitted to being impressed last week on how the measure was received in the legislative process and noted that he would take that into account.

Apart from the marijuana sales legalization bill, the Senate also approved a separate bill that will issue automatic expungements of cannabis convictions as well as allow individuals to possess and grow more marijuana without being arrested. The House had passed the proposal earlier this month, meaning it’s also headed to the governor’s desk as well.

The proposed marijuana sales bill states that cannabis would be subject to the state’s 6% sales tax and an additional 14% excise tax. S.54 also highlights a few social equity provisions like helping individuals who have been adversely affected by the drug war and making cannabis business licenses for minorities a priority. Additionally, an independent regulatory commission will be in charge of promoting small business participation in the market.

A cannabis control commission would be established and would be responsible for the issuance of licenses to growers, retailers, manufacturers, labs and wholesalers. This body will also assume the role of the Department of Public Safety in regulating the state’s medical marijuana industry.

Additionally, flavored vape cartridges would be banned and a 30% THC limit would be imposed on marijuana flower while marijuana oil may only contain at most 60% THC.

A fiscal analysis that was done on the final bill shows that Vermont will generate roughly $13.3 million – $24.2 million in annual marijuana tax revenue by the Fiscal Year 2025. The Joint Fiscal Office estimates that licensing fees may generate an additional $650,000 in revenue each year. Municipalities that have cannabis businesses will also be allowed to impose additional local fees.

Industry watchers say sector players like The Alkaline Water Company Inc. (CSE: WTER) (NASDAQ: WTER) will be hoping that the governor puts the wishes of the people into consideration while deciding whether to enact or reject the marijuana policy reform bills before him.

About CNW420

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Benzinga Cannabis Capital Conference Goes Digital to Connect Even More Industry Insiders, Enthusiasts

The ninth installment of the Benzinga Cannabis Capital Conference is switching to a virtual experience. Originally scheduled to take place in Chicago, the now entirely digital event is set to take place on October 15, 2020, and will feature an array of presentations, quick-fire keynotes and panel discussions with top cannabis insiders. The Cannabis Capital Conference of 2020 will feature presentations from companies such as Cresco Labs Inc. (OTCQX: CRLBF), Canopy Growth Corporation (NYSE: CGC), Trulieve Cannabis Corp. (OTCQX: TCNNF), SLANG Worldwide Inc. (OTCQB: SLGWF), Entheon Biomedical, and many more. A new landscape for Benzinga, the shift to virtual events has proven successful in its ability to connect even more individuals from anywhere in the world. “We’ve all participated in some clunky virtual events over the past months and this was smooth with strong contacts and ‘meetings,’” Michael Mills, president and CEO of Body and Mind, said of Benzinga’s digital format. “Really appreciate all [of Benzinga’s] work!”

To view the full press release, visit https://cnw.fm/7uIOl

About Benzinga

Benzinga is a leading financial media company dedicated to making information easier to consume. Benzinga’s news desk is constantly breaking stories and moving billions of dollars of market capitalization through its real-time news tool, Benzinga Pro. Benzinga’s original content is syndicated to 70 partner websites including Yahoo! Finance, MSN, CNNMoney, Fox Business and MarketWatch. For more information or to register for the Virtual Cannabis Capital Conference, visit www.Benzinga.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.